Oncology chain Healthcare Global Enterprises Ltd on Wednesday said it will launch its initial public offering (IPO) on 16 March to raise about Rs.650 crore. The issue will close on 18 March.
The Bengaluru-based firm has priced the offer in the band of Rs.205-218 per share. The total issue size will range from Rs.610.9 crore to Rs.649.6 crore.
The company aims to raise about Rs.250 crore by selling new shares, while investors such as Milestone Army Trust, India Build-Out Fund I, PI Opportunities Fund I and V-Sciences Investments Pte Ltd. look to sell 18.2 million shares by way of an offer for sale (OFS).
Private equity fund India Build-Out Fund invested Rs.31 crore in HCG in 2010, while V-Sciences invested Rs.60 crore in the firm in 2013, Mint reported on 29 July.
PI Opportunities holds a 21.11% stake, while India Build-Out and V-Sciences own 17.22% and 16.16%, respectively. The promoter group holds a 29% stake. The offer will constitute 36.83% of the firm’s post-offer paid-up equity share capital.
Kotak Mahindra Capital Co. Ltd, Edelweiss Financial Services Ltd, Goldman Sachs (India) Securities Pvt. Ltd, IDFC Securities Ltd, IIFL Holdings Ltd and Yes Bank Ltd are the financial advisors to the public issue.
The firm will use the primary funds raised through the issue to buy medical equipment, invest in IT software, services and hardware, pre-payment of debt and general corporate purposes.